Albuhaira National Insurance Company

Claim Services

Click here to find information on Medical Insurance Claims.

Click here to find information on Motor Insurance Claims

Timings and Location

Our office timings are 8:00 AM to 1:30 PM ; 2:30 PM to 5:00 PM (Sunday to Thursay). Click here to find details and location map of our various Offices.

Financial Report 2014

CONSOLIDATED PROFIT AND LOSS ACCOUNT
For The Year Ended 31st December 2014

DEPARTMENTAL PROFITS

2014
DH ‘ 000

2013
DH ‘ 000

.

Accident & Liability

15,473

6,218

Fire & General

2,373

759

Marine & Aviation

7,711

6,323

Other Kind of Insurance

9,556

8,575

 

35,113

21,875

.

Other Income

47,178

30,908

.

Other Expenses

(29,080)

(42,411)

.

NET PROFIT FOR THE PERIOD

53,211

10,372

.

Basic Earnings Per Share

0.21

0.04

.

US $ 1.00 = DH. 3.675

CONSOLIDATED BALANCE SHEET AS OF:

CURRENT ASSETS

31st Dec. 2014
DH ‘ 000

31st Dec. 2013
DH ‘ 000

 

Cash and Bank Deposits

164,757

143,733

Insurance and other receivables

402,380

540,261

Reinsurance Contract Assets

209,306

256,366

Total Current Assets

776,443

940,360

 

Non - CURRENT ASSETS

 

Investment Property

953,941

946,765

Tangible Assets

6,199

6,445

Investment in Securities

57,130

53,342

Investment in Associate

-

-

Statutory Deposit

6,000

6,000

Total Non - Current Assets

1,023,270

1,012,552

TOTAL ASSETS

1,799,713

1,952,912

.

CURRENT LIABILITIES

Total Creditors

382,659

595,845

Insurance Contract Liabilities

361,028

406,064

Total Current Liabilities

743,687

1,001,909

.

NON-CURRENT LIABILITIES

Long Term Loan

359,926

302,090

Provision Employee's EOS indemnity & provident fund

29,284

32,373

Retention Payable

5,396

8,184

Total Non-Current Liabilities

394,606

342,647

.

TOTAL LIABILITIES

1,138,293

1,344,556

.

SHARE HOLDERS’ EQUITY

Share Capital

250,000

250,000

Statutory Reserve

100,058

94,737

General Reserve

200,000

200,000

Change in Fair Value of Securities

(16,012)

(15,866)

Retained Earnings

127,374

79,485

.

Shareholders’ Fund

661,420

608,356

.

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,799,713

1,952,912

 
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Our track record has been consistently successfull, thanks to the increasing trust and confidence our clients have reposed in us. In an intensely competitive field, ABNIC has stood it ground by virtue of its financial soundness, stratergic positioning of its products and services to fulfil ever changing insurance needs.

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